Aktsiaselts Tallink Grupp - NASDAQ OMX Baltic

FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED AUGUST 31, 2004
NOTES TO THE FINANCIAL STATEMENTS—(Continued)
Note 17 OTHER PAYABLES AND DEFERRED INCOME
(in thousand EEK)
The Group Parent Company
31.08.2004 31.08.2003 31.08.2004 31.08.2003
Customers’ prepayments .................................. 25,585 14,229 3,080 1,533
Payables to subsidiaries ................................... 0 0 579,063 531,852
Payables to associates .................................... 147 0 147 0
Other payables .......................................... 2,865 386 843 94
Payables to employees .................................... 53,848 36,162 7,210 6,087
Interests payable ........................................ 50,228 28,153 726 1,535
Other accruals .......................................... 7,298 1,364 0 62
TOTAL ............................................... 139,971 80,294 591,069 541,163
* See Note 20 for more information about payables to subsidiaries.
Note 18 SHARE CAPITAL
(in thousand EEK)
31.08.2004 31.08.2003
Ordinary shares of EEK 10 each (thousands pcs) ................................. 27,500 22,400
The number of shares issued and fully paid (thousands pcs) ......................... 27,500 22,400
Share capital .............................................................. 275,500 224,000
Share premium per share in EEK .............................................. 15.09 3.09
Totalsharepremium........................................................ 414,870 69,223
According to the Articles of Association the maximum number of authorized common shares is 89,600,000.
According to AS Tallink Grupp Shareholders’ Extraordinary General Meeting on September 15, 2003 AS
Tallink Grupp increased the share capital from EEK 224,000 th to EEK 275,000 th by issuing 5,100,000 new
shares with the par value of 10 kroons each. The new shares were issued at a premium of EEK 72.14 per share.
The payment for new shares was made on September 18, 2003. The share premium has been reduced by the
expenses related to the issuing of shares in the total amount of EEK 22,267 thousands.
During the financial year 2002/2003 AS Tallink Group repurchased its shares for EEK 4,599 thousand and
sold these with the same price.
Note 19 COMMITMENTS AND CONTINGENCIES
(in thousand EEK)
Legal claim
Tallinna Sadam AS has filed a claim to Tallinn City Court against Hansatee Cargo AS to claim cargo fees
payable in the port of Paldiski in the amount of EEK 4,943 thousands. In the opinion of the management of
Hansatee Cargo AS the claim was unfounded. The parties settled the dispute at court and it was accepted by
Tallinn City Court with the ruling issued on February 13, 2004. According to the settlement AS Hansatee Cargo
paid a one-time compensation to AS Tallinna Sadam in the amount of EEK 3,900 thousands, which was already
expensed in 2002/2003.
Income tax on dividends
The group’s retained earnings as at August 31, 2004 were 1,465,007 (as at August 31, 2003—
EEK 1,157,084 thousand). The maximum possible income tax liability as at August 31, 2004, which would
become payable if retained earnings were fully distributed and all shareholders belonged to the taxable category,
is 351,062 (as at August 31, 2003 — EEK 300,842) thousand . Accordingly, it would be possible to pay out to
the shareholders 1,113,945 (2003: EEK 856,242 thousand), net of tax.
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